The fledgling consortium started by Nexstar, Sinclair and Univision, now covers about 90% of the U.S. It plans to work to promote ATSC 3.0 innovation and develop products and services that can drive spectrum utilization, virtual MVPD platforms, multicast channels, automotive applications, single frequency networks and wireless data applications.
The action follows $48.7 million of share repurchases in this year’s second quarter that depleted the balance of a prior $100 million authorization.
The veteran local TV broadcaster moves from Bend, Ore., to oversee WOOD (NBC), WOTV (ABC) and WXSP.
The new contract runs through 2022 and also adds over-the-top digital distribution agreements.
The Tennessee native and TV news and management veteran returns to Nashville to lead Nexstar’s ABC affiliate there.
On Monday, May 22, Perry A. Sook, chairman, president and CEO of Nexstar Media Group Inc., becomes MFM’s latest Avatar Award recipient. He joins the associations’ former Avatar honorees as an exemplar of leadership who demonstrates a commitment to the media community as well as someone who has led his or her company to greater success.
Advertising technology and business strategy executives Anthony Katsur and Michael Kestenbaum named SVP of platforms and SVP of strategy and corporate development, respectively.
According to CFO Tom Carter, 1Q revenue that excludes the contributions from the recently acquired Media General stations broke down to: net revenue up 4.5% with local ad revenue up less than 1%, national ad revenue down less than 7%, retrans revenue up 32% and station website revenue up 12%. CEO Perry Sook said ad revenue now accounts for less than half the mega-group’s net revenue.
Top technologists at Al Jazeera, Sinclair and Nexstar predict the cloud will help producers break news more quickly, while artificial intelligence and Big Data will help them mine their archives for information, not just about news trends, but about how to shape stories for different audiences and distribution channels including mobile, social and OTT.
Nexstar Media Group announced today that its board of directors declared a quarterly cash dividend of $0.30 per share of its Class A common stock. The dividend is payable on Friday, May 26, to shareholders of record on Friday, May 12.